Weekly Report 12/27–01/02

The MEXC Weekly Report is a recap on some of the biggest news in the blockchain world, in the Around the Blockchain Universe segment.

For the week of December 27 to January 2 according to MEXC Global, the hottest news in crypto world are:

V god: Stablecoin stability in the face of a dollar collapse requires more aggressive governance

On January 2, Ethereum founder V God tweeted on his personal social media platform that the current adoption rate of cryptocurrencies is high, but Stablecoin adoption rate is also high; Many businesses operate in the USDT. Of course, that could change if the dollar itself starts to have more problems. I’m more pessimistic about stablecoins now because I switched to PoS. If we want stablecoins to be stable in the face of a dollar collapse, we need more aggressive governance. Bitcoin’s decentralization will allow it to survive in a hyper-hostile regulatory environment, but it cannot thrive, and a successful anti-censorship strategy requires a combination of technical robustness and public legitimacy. The money Internet should not cost more than 5 cents per transaction, which is why so much time has been spent researching scalability. The core “idea” of sharding survives unscathed. Blockchain 1.0 downloads everything for each node, with consensus, whereas BitTorrent downloads something for each node, with no consensus. So the ideal is to have both Bittorrent efficiency and blockchain-like consensus. In the past, V was particularly bullish on BCH, as it was more in favor of the larger block argument in the war. God V now believes that the BCH has largely failed because “communities that form around a rebellion, even if they have a good cause, have a hard time in the long run because they value bravery over competence, and they rally around resistance rather than a coherent path forward.”

Forbes CEO: Bitcoin will help fight inflation

Jackjaykelly, CEO of Forbes, said bitcoin could become an alternative to the dollar as inflation increases and workers’ wages fall.

Greyscale encryption asset management now stands at $43 billion, down nearly 30% from the beginning of November

Greyscale Investments’ cryptocurrency assets under management (AUM) are now $43.6 billion, down more than 28% from $61 billion at the beginning of November, CoinDesk reported On January 1. AUM, the company’s largest holding in bitcoin trust, fell from $43.5 billion to $30.4 billion, down 30% over that period. Its second-largest holding, the Ethereum trust, fell 22% from nearly $15 billion to $11.6 billion. But its total assets under management are up about 170 percent from $16.4 billion a year ago. Grayscale also has a broader portfolio than it did a year ago.

In 2021, the Bitcoin blockchain will grow from 319GB to 383GB, the lowest growth rate in nearly three years

According to data from Statista, bitcoin blockchain will grow from 319GB to 383GB in 2021, with a growth rate of 20% and the lowest in nearly three years. At the beginning of 2020, the Bitcoin blockchain was 257GB, a growth rate of 24%; At the beginning of 2019, it was 199GB with a growth rate of 29%.

Shiba Inu will launch DAO, beta versions of “DAO 1” and “DAO 2” have been launched

On January 1, according to Shiba Inu community blog, the development team behind Shiba Inu (SHIB) announced the launch of DAO in order to jointly make governance decisions regarding the project’s ShibaSwap trading platform. Users who pledge Shiba Inu incentive Token BONE and receive tBONE will be eligible to vote. Currently, Shiba Inu has launched DAO 1, a beta version of the DAO, in which users can decide how Token rewards are allocated among liquidity pools. According to the Shiba Inu development team, the DAO will empower the community and reward liquidity pools will be entirely user-determined…… Prevent developers from making these choices; Another new DAO, called “DAO 2,” allows users to make general suggestions around project development.

Coinbase releases 10 predictions for Web3 and the crypto economy in 2022

Coinbase released 10 predictions for Web3 and the crypto economy in 2022, including: 1. Ethereum scalability will improve, but the new Layer1 chain will see significant growth 2. The availability of L1-L2 chain Bridges will be significantly improved 3. Zero-knowledge proof technology will gain more attention 4. Regulated DeFi and on-chain KYC certificates will appear 5. Institutions will play a greater role in DeFi participation 6. DeFi insurance will appear 7. NFT based communities will give Web 2.0 social networks substantial competition 8. Brands will start to actively participate in Metaverse and NFT 9. Web2 companies will wake up and try to enter Web3 10. The DAO 2.0 era is coming

Cryptocurrency is the most popular topic on Reddit in 2021

As 2021 draws to a close, Reddit announced that cryptocurrency was the most popular topic on Reddit this year, beating out gaming, sports, and weddings. The word “encrypted” has been used more than 6.6 million times across the site. Reddit users were more interested in dogecoin than bitcoin. The five most popular cryptocurrency subplates are R/Dogecoin, R/Superstonk, R /cryptocurrency, R /amcstock, and R/Bitcoin. The most liked crypto posts on Reddit this year were about DOGE, Tesla’s entry into bitcoin, and crypto’s survivor bias.

Spot Bitcoin ETFs may not be launched on U.S. regulated exchanges in 2022: CDC founder

Perianne Boring, founder and chair of the U.S. Digital Chamber of Commerce (CDC), said in an interview, “Companies that issue spot Bitcoin ETFs may find creative ways to offer their products to Americans. In other words, In 2022, the spot Bitcoin ETF may not launch on a U.S. regulated exchange, opting instead to launch in other countries, but the investment vehicle will eventually make its way to the U.S. market for investors to use. In addition, SEC Chairman Gary Gensler has been trying to expand the regulator’s jurisdiction, which could lead to some dialogue between the CFPB and CFTC.”

Stats: Female artists account for only 5% of total NFT sales

According to A study by Art Survey, women artists accounted for just 5% of NFT sales over the past 21 months. (Another 16% of NFT creators are gender neutral.) According to the report, 75% of revenues in the NFT market are allocated to male artists. Other studies have found that 87 percent of artists currently exhibiting in major museums are male and 85 percent are white.

Data: BTC miners have earned at least $38 billion over the past 13 years

Bitcoin miners have earned at least $38 billion over the past 13 years, according to data cited by Jameson Lopp, co-founder of crypto wallet Casa. Jameson Lopp said the estimate was based on the assumption that miners immediately cashed out their BTC earnings into fiat money, which would certainly not happen because miners are long-term holders.

WSJ: Metaverse isn’t fully available to users yet, but investors are jumping in

On December 30, The Wall Street Journal published an article pointing out that cryptocurrency is attracting everyone, from technical elites to artists, and the blockchain technology that cryptocurrencies rely on is also set to dominate the meta-universe. Numerous reports and data show that investment companies have been buying real estate in the metasverse. Andrew Kiguel, the chief executive of Tokens.com, said in a recent interview that buying land in the metaverse can pay off, just as buying land in Manhattan did 250 years ago. In addition, Facebook has changed its name to Meta, Nvidia owns Omniverse, Google’s parent company Alphabet is focused on artificial intelligence, and Apple is working on metasurverse wearables. While it is still in the early stages of development, a number of investors and tech unicorns have already set out to build metaverse businesses.

Mexico’s central bank plans to launch the CBDC in 2024

Mexico’s central bank will launch a digital currency (CBDC) by 2024, according to a report released by the Mexican government on December 30. Mexico’s central bank sees these new technologies and next-generation payment infrastructure as extremely important and an important option to advance financial inclusion in the country.

CryptoRank: Terra became the fastest growing blockchain in lock-up volume in 2021

On December 30, CryptoRank revealed that Terra is the fastest growing blockchain in terms of lock-ups in 2021, with approximately $17.9 billion in lock-ups, an annual growth rate of 35,700%. In addition, blockchains with the growth rate of lock-in volume from 2 to 10 are: Fantom ($5.7 billion, 18,900 percent), Avalanche ($12 billion, 17,042 percent), BSC ($16.7 billion, 13,816 percent), Tron ($10.4 billion, 7900 percent), Solana ($11.5 billion, 7,566%), Cronos ($1.9 billion, 3,700%), Arbitrum ($1.8 billion, 2,262%), Polygon ($5.5 billion, 1818 %), Ethereum ($154 billion, 754%).

Bloomberg: Investors continue to invest in BTC ETFs as Bitcoin declines

On December 29, Bloomberg reported that investors chose to invest in BTC ETF despite bitcoin’s decline. The ProShares Bitcoin Strategy ETF (BITO) has seen inflows of more than $40 million in the past three months through December. In addition, investors have poured more than $6.5 million into the Valkyrie Bitcoin Strategy ETF (BTF) since the end of November. Todd Rosenbluth, head of the ETF, said that prior to the LAUNCH of the BTC ETF, there had been an unmet demand for ETF exposure to the price of Bitcoin, with many investors taking a good long-term view and therefore not disrupted by recent volatility.

Report: BNB is the winner for 2021, up 1,344%

On December 29, crypto Research firm Arcane Research published a weekly report calling BNB the “winner of 2021.” “Bitcoin may have beaten the stock market in 2021, but it’s already been beaten by other cryptocurrencies. Binance Coin (BNB) was the best performer among the three largest cryptocurrencies by market cap, up 1,344%. The BSC ecosystem saw tremendous growth in 2021 and took a share of the Ethereum blockchain.”

South Korean authorities have ordered Apple and Google to remove “P2E” games from their stores

The Game Management Board (GMC) of the Ministry of Culture, Sports and Tourism has strengthened its stance against “earn while you play” (P2E) games. The GMC on Dec. 27 asked major mobile app marketplaces to block any games that require in-app purchases before playing. The regulator also ordered some of the most popular mobile app stores not to stock P2E games. According to an official at the Ministry of Culture, Sports and Tourism’s Game Management Committee, the move follows a ruling by the Country’s Supreme Court that P2E games must have an age and listing rating.

Us Senator Warren: Bitcoin ownership is more concentrated than the US dollar, encryption is not the true path to financial equality

On December 29, US Senator Elizabeth Warren posted on social media that the encryption industry claims that encryption is the way to achieve financial equality, But bitcoin ownership is even more concentrated than the U.S. dollar (the top 10,000 bitcoin addresses hold 5 million bitcoins, or 27% of the total supply). We need real solutions that make the financial system work for everyone, not just the rich.

Apple could launch a meta-universe wearable device as early as next year

According to BlockBeats on December 28, Apple will launch the first MR headset next year. The price may be around $3,000, making it apple’s most expensive wearable device ever. The apple MR headset is expected to be the most notable new Apple product of 2022 and should be available by the end of 2022, according to the institute.

Korea’s tax agency has changed its rules for calculating crypto inheritance and gift taxes

Cryptocurrency inherited or received as a gift will be taxed based on its average daily value in the two months prior to the transfer, and while the new tax regime only covers inheritance and gift taxes, it may also be used to levy capital gains tax on virtual assets, the Korea National Tax Service said on December 28. The tax will take effect in 2023.

Data: The number of ETH addresses holding more than 1000 ETH reached a 4-year low

BlockBeats news, on December 28, according to Data from Glassnode, the number of addresses holding more than 1000 ETH was 6277, the lowest in nearly four years.

Cirus Foundation has announced the launch of a Google Chrome extension that supports data sharing and monetization

Cirus Foundation recently announced the release of Google Chrome Extension. The program allows basic data sharing and monetization capabilities. By entering the app and sharing location data, users can earn CIRUS tokens while surfing. Michael Luckhoo, managing Director of the Cirus Foundation, commented on the development; “The ownership economy is here and here to stay.”

Crust Network won the 19th Kusama parallel chain slot auction

According to official sources, Kusama’s 19th auction has closed, The Web 3.0 decentralized storage Network Crust Network successfully won the 21st slot in Kusama by locking 30,026 KSM, plugged into the Kusama relay chain, and stacked in a parallel chain fashion.

Us regulators are expected to increase the number of crypto hearings next year, according to Deputy Director of the World Economic Forum’s Fourth Industrial Revolution Center

On December 28, Sheila Warren, deputy director of the World Economic Forum’s Center for the Fourth Industrial Revolution, predicted that the US government and regulators will conduct more hearings and increase regulatory activity in the crypto sector in 2022. Warren also said that 2022 will see more investment money flowing into crypto — regardless of whether the spot BTC ETF is approved or not, crypto will continue to grow, even more SPAC and listed companies, and some startups and projects will move out of the early seed stage into a more mature stage. These will have a huge impact on the market.

Japan’s ministry of Economy, Trade and Industry will use NFT for the first time in fashion in February next year

On December 27, NHK reported that Japan’s Ministry of Economy, Trade and Industry will use NFT for the first time in the fashion field in February next year. Meti’s demonstration experiment will be outsourced to a start-up company that already uses NFT technology to provide services in the arts. By using NFT to create new deals, metI hopes to diversify designers’ income streams and increase their competitiveness.

Russia’s central bank began monitoring all remittances between individuals in 2022

According to RIA Novosti on December 27 local time, the Central bank of Russia will start monitoring all inter-individual fund flows of credit institutions from 2022. According to the report, the Central bank of Russia has updated the report form regularly provided to it by commercial banking institutions, which is required to specify the details of all forms of person-to-person remittances, as well as the personal information of the remitter and receiver. The policy is likely to take effect in January 2022. The Russian Central bank said the implementation of the new policy will help banks optimize their services and combat online gambling, cryptocurrency fraud, Ponzi schemes, illegal foreign exchange transactions and illegal commercial activities.

UST’s market value exceeded $10 billion, the first decentralized Stablecoin with a scale of $10 billion

On December 27, Terra Co-founder Do Kwon tweeted that Terra eco-decentralized Stablecoin UST (TerraUSD) has reached a market capitalization of $10 billion. Became the first $10 billion decentralized Stablecoin.

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Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/

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MEXC Global

MEXC Global

Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/

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